Bitcoin price continues to play an important role in curbing unnecessary optimism in the market. The bearish outlook that has developed over the last few days could result in a steep correction. If successful, it will end the free reign some altcoins have been enjoying. Ethereum and Ripple have rallied to an extent but not as much as Lido DAO, Ethereum Classic and so on.
Ripple (XRP) price has jumped over 3% early Wednesday as bulls pierce through the monthly pivot level at $0.36. This comes after a very nervous trading day on Tuesday in the US session as traders were a bit puzzled about what to do with US Federal Reserve Chair Powell refraining from commenting on the US rate situation during a symposium at the Riksbank in Sweden. Deep into the US trading session, traders shrugged off the nervousness and added more risk assets into their positions, triggering sharp jumps and rallies in equities and cryptocurrencies.
Ethereum Shanghai Hard Fork is the next key milestone for the second-largest cryptocurrency by market capitalization. The event is closely followed by a token unlock, where at least 35,008 ETH will be unlocked shortly after the hard fork is successful.



